The latest trade data for March are expected to show a sharp narrowing in the headline deficit, which should be partly due to the better
goods trade balance, as seen in the relevant data released a week ago, while services balance should show an improvement too.
The Eurozone's
goods trade balance surplus registered EUR 21 billion in February, up from 20.2 in the previous month
Not exact matches
However, the international shipment of non-U.S.
goods through the United States can make standard measures of bilateral
trade balances potentially misleading.
OTTAWA (MNI)- Canada
goods trade deficit reached a record high C$ 4.1 billion in March, widening from C$ 2.9 billion in February, which was slightly revised from C$ 2.7 billion, leading to a deterioration of the
balance in the first quarter that does not bode well for net export contribution to GDP growth, according to data from Statistics Canada.
If these numbers are realistic, the portfolio
balance model would suggest that the exchange rate has to appreciate initially by some 30 per cent (and will appear seriously and persistently uncompetitive for
trade in
goods and services), before depreciating by 3 per cent per year over the following decade.
At stake are billions of dollars of
goods traded across borders, as the fate of corporate exporters and importers hangs in the
balance.
Originally derivatives were used to ensure there would be a harmonious
balance in exchange rates for
goods and services
traded on a global scale.
It is defined as the sum of the
balance of
trade (
goods and services exports less imports), net income from abroad, and net current transfers.
ECONOMIC OVERVIEW Currency: Australian Dollar ($ A) Market Exchange Rate (5/24/02): US $ 1 = $ A1.79 Nominal Gross Domestic (GDP, 2001E): U.S. $ 365.8 billion Real GDP Growth Rate (2001E): 4.1 % (2002F): 3.8 % Inflation Rate (2001E): 4.3 % (2002F): 3.0 % Unemployment Rate (2001E): 6.9 % (2002F): 7.0 % Current Account
Balance (2001E): - $ 15.3 billion (2002F): - $ 16.9 billion Major
Trading Partners: Japan, other Far East, European Union, United States Major Export Products: crude materials, food and live animals, mineral fuels and lubricants Major Import Products: machinery and transport equipment, manufactured
goods, chemicals
ECONOMIC OVERVIEW Minister of the Economy: Roberto Lavagna Currency: Peso Financial Exchange Rate: US$ 1 = 3.6 Argentine Pesos (10/29/02) Nominal Gross Domestic Product (2001E): $ 267.6 billion (2002E): $ 111.3 billion Real GDP Growth Rate: (2001E): -4.5 % (2002E): -13.7 % Inflation Rate: (2001E): -1.1 % (2002E): 30.7 % Unemployment Rate: (2002E): 22 % Current Account
Balance as a % of GDP: (2001E): -1.7 % (2002E): 7.3 % Major
Trading Partners: Brazil, United States, Japan, Uruguay, Chile, Germany, France Major Export Products (2000): Agricultural products (including manufacturing of agricultural products)(55 %), industrial products (30 %), energy (15 %) Major Import Products (2000): Consumer
goods (23 %), industrial inputs (including raw materials)(34 %), capital
goods (43 %)
2001E): 21.6 %; (2002E): 15.7 % Official Unemployment Rate (2001E): 8.8 %; (2002E): 8.6 % Current Account
Balance (2001E): $ 34.3 billion; (2002E): $ 27.1 billion Major
Trading Partners (2001): Germany, Ukraine, U.S., Belarus, Italy, Netherlands, Kazakhstan Merchandise Exports (2001E): $ 101.6 billion; (2002E): $ 100.9 billion Merchandise Imports (2001E): $ 53.8 billion; (2002E): $ 57.9 billion Merchandise
Trade Balance (2001E): $ 47.8 billion; (2002E): $ 43.0 billion Major Exports: Petroleum and petroleum products, natural gas, wood and wood products, metals, chemicals, and a wide variety of civilian and military manufactures Major Imports: Machinery and equipment, consumer
goods, medicines, meat, grain, sugar, semifinished metal products External Debt (2001E): $ 154 billion
US
Balance of
trade is made more negative as US consumers shop increasingly overseas for the best and most beautiful eco-efficient
goods.
The continued strong demand from more than 310 million people for
goods and services has resulted in a
trade balance in the early 21st century that currently favors foreign exporters.